FIH Partners advises on the divestment of a minority stake in the Taiwan offshore wind project Changfang and Xidao to local Taiwan life insurance companies

FIH Partners advises CIP on the divestment of minority stake in Taiwan offshore
Transaction:
Divestments
Date:
Jan 2020
Deal Value:
Not disclosed
Process:
Private process
Industry:
Renewables

FIH Partners advised Copenhagen Infrastructure Partners, through the fund Copenhagen Infrastructure II K/S (CI-II) and Copenhagen Infrastructure III K/S (CI-III), in the divestment of a minority stake in the offshore wind project Changfang and Xidao to local Taiwan life insurance companies Taiwan Life, wholly owned subsidiary of CTBC Financial Holding Company, and TransGlobe Life. The transaction is the first of its kind to enable local life insurance companies to make a direct investment in a Taiwanese offshore wind farm.

The offshore wind project Changfang and Xidao is located 13-15 km off the coast of Changhua County in Taiwan, and has an expected capacity of 600MW. The project has received all key permits as well as signed a PPA with Taiwan Power Company in February 2019 and is currently being developed towards Financial Close.

The value of the transaction is not disclosed.

FIH Partners acted as exclusive financial advisor to Copenhagen Infrastructure Partners.